Sequoia Financial Advisors LLC Has $910,000 Stock Position in VeriSign, Inc. $VRSN

Sequoia Financial Advisors LLC lifted its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 51.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,151 shares of the information services provider’s stock after purchasing an additional 1,073 shares during the period. Sequoia Financial Advisors LLC’s holdings in VeriSign were worth $910,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC lifted its holdings in VeriSign by 56.5% in the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock valued at $28,000 after buying an additional 35 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in VeriSign by 2.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,506 shares of the information services provider’s stock worth $382,000 after purchasing an additional 37 shares in the last quarter. Flputnam Investment Management Co. grew its position in VeriSign by 1.8% in the 1st quarter. Flputnam Investment Management Co. now owns 2,183 shares of the information services provider’s stock worth $554,000 after purchasing an additional 39 shares in the last quarter. Advisors Asset Management Inc. grew its position in VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after purchasing an additional 40 shares in the last quarter. Finally, Cromwell Holdings LLC grew its position in VeriSign by 32.3% in the 1st quarter. Cromwell Holdings LLC now owns 172 shares of the information services provider’s stock worth $44,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insider Transactions at VeriSign

In other VeriSign news, CEO D James Bidzos sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $264.15, for a total transaction of $1,320,750.00. Following the transaction, the chief executive officer owned 508,772 shares in the company, valued at approximately $134,392,123.80. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 38,706 shares of company stock valued at $10,591,676 over the last ninety days. 0.84% of the stock is owned by corporate insiders.

VeriSign Price Performance

Shares of NASDAQ:VRSN opened at $264.79 on Friday. VeriSign, Inc. has a one year low of $175.62 and a one year high of $310.60. The firm has a fifty day moving average price of $274.72 and a two-hundred day moving average price of $274.04. The company has a market cap of $24.73 billion, a price-to-earnings ratio of 31.60 and a beta of 0.79.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, July 24th. The information services provider reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.01. The business had revenue of $409.90 million during the quarter, compared to the consensus estimate of $410.35 million. VeriSign had a net margin of 50.05% and a negative return on equity of 40.87%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.01 earnings per share. VeriSign has set its FY 2025 guidance at EPS.

VeriSign declared that its board has authorized a share repurchase program on Thursday, July 24th that permits the company to buyback $1.11 billion in outstanding shares. This buyback authorization permits the information services provider to buy up to 4.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

VeriSign Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 19th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, August 19th. VeriSign’s dividend payout ratio is currently 36.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Robert W. Baird upped their price objective on shares of VeriSign from $285.00 to $305.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of VeriSign in a research report on Wednesday, October 8th. Finally, Citigroup reissued a “buy” rating on shares of VeriSign in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $277.50.

VeriSign Company Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.